Patient Throughput And Capacity Management Market Set to Cross US$ 600 Mn by 2024

In North America, the patient throughput and capacity management market is expected to register a CAGR of 5.0% over the forecast period. The market in the region is estimated to account for more than US$ 400 Mn in 2017 and is expected to be valued in excess of US$ 600 Mn by 2024. The North America patient throughput and capacity management market was projected to account for more than 50% share of the global patient throughput and capacity management market in 2016 and is expected to gain 17 BPS over the forecast period. The North America patient throughput and capacity management market is expected to represent incremental opportunity of more than US$ 200 Mn between 2016 and 2024. The patient throughput and capacity management market in Canada is predicted to register a healthy CAGR of 4.7% during the forecast period.

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The U.S. is likely to be the most attractive country in the North America patient throughput and capacity management market over the forecast period and is estimated to account for more than 80% of the North America patient throughput and capacity management market by the end of the forecast period. The U.S market is expected to continue its dominance over the projected period.

Rising incidence of accidents, diseases, and trauma cases in North America has led to an ever-increasing patient pool. Despite this, the number of hospital beds and healthcare professionals is not increasing at the same rate, thereby creating a disparity between demand and supply, which can be better managed with patient throughput and capacity management solutions. Hence, increasing number of patients is expected to be a major factor driving demand for patient throughput and capacity management solutions during the forecast period in the North America region.

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Across the globe and in North America particularly, patient throughput and capacity management solutions enable better and timely care for patients and consequently reduce the duration of a patient’s stay in the hospital. Patient throughput and capacity management solutions track patients’ clinical data and assigns the nearest nurse, doctor or caregiver, which results in fastest discharge of patients from the hospital. Thus reduced hospital stay duration is a factor expected to fuel demand for patient throughput and capacity management solutions during the forecast period in North America.

Managing existing resources is a critical issue for hospitals in North America. Increasing number of in-patients coupled with inadequate resources necessitates the need for patient throughput and capacity management solutions. Hospitals need to maximize the use of resources in order to provide better care and generate more revenue. In this regard, patient throughput and capacity management solutions have proven capable of increasing hospital efficiency and revenue. These solutions are offered in different modules such as real-time location trackers, assets and bed management, and patient flow trackers. Technological advancements and addition of user-friendly features are likely to further boost the growth of the patient throughput and capacity management market in the near future.

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Real Time Locating System segment by product type is expected to register significant growth over the forecast period in the North America region, attributed to the fact that these systems help in precisely tracking the location of hospital resources, thereby enhancing efficiency. This segment is the most attractive segment in terms of revenue and is expected to generate maximum revenue of more than US$ 200 Mn by the end of 2024.

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